Practice
What do banks report under CRS?
Far more than just a balance. The CRS schema combines identity, residence and full-year financial activity into one annual file per reportable account.
Updated May 2026 · CRS.brief editorial
The four data blocks
1. Account holder identity
- Full legal name
- Date and place of birth (individuals)
- Residence address
- Jurisdiction(s) of tax residence
- Taxpayer Identification Number(s) (TIN)
- For entities: legal form and classification (Active NFE, Passive NFE, FI)
- For Passive NFEs: identity of every Controlling Person
2. Account identification
- Account number (IBAN where applicable)
- Name and identifier of the reporting financial institution
- Account type (depository, custodial, equity/debt interest, cash-value insurance)
3. Balance and value
- Account balance or value as at 31 December of the reporting year
- If closed during the year: closure flag (balance is zero)
4. Income paid or credited during the year
| Account type | Reportable income |
|---|---|
| Depository | Gross interest |
| Custodial | Gross interest, dividends, other income, gross proceeds from sale/redemption |
| Equity/debt interest | Gross distributions |
| Cash-value insurance / annuity | Gross amount paid or credited |
What banks do NOT report
Individual transactions, counterparties of payments, narrative descriptions, or images of documents are not shared. CRS is a summary, not a statement.
FAQ
Are joint accounts reported?
Yes — once for each reportable account holder, with full balance reported to each holder's jurisdiction.
Are small accounts excluded?
Pre-existing individual accounts below USD $250,000 may benefit from a simplified review, but they are not exempt from reporting once identified as reportable.
When does the data get sent?
Institutions report to their local tax authority by spring/summer of year N+1. Authorities exchange by 30 September of year N+1.